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Bulgold Announces Filing of First Quarter Financial Results for Three Months Ended March 31, 2023
TORONTO, May 26, 2023 (GLOBE NEWSWIRE) -- BULGOLD Inc. (TSXV: ZLTO) (the “Company” or “BULGOLD”) is pleased to announce that it has filed its unaudited condense
About this update from Bulgold Inc
[{"type":"text","content":" TORONTO, May 26, 2023 (GLOBE NEWSWIRE) -- BULGOLD Inc. (TSXV: ZLTO) (the “Company” or “BULGOLD”) is pleased to announce that it has filed its unaudited condensed interim financial statements and MD&A for the first quarter ended March 31, 2023. During the three months ended March 31, 2023, the Company incurred a net loss of $802,707 ($0.07 per share) during the three months ended March 31, 2023, including a non-cash expense of $734,269 being the cost of listing. The cost of listing relates to the recently completed acquisition of assets in Bulgaria. Other expenses incurred, primarily related to professional fees for the completion of the acquisition. On March 31, 2023, the company had cash (and cash equivalents) of $1,684,350 (net working capital of $1,553,474) which will be used to support exploration activities. About BULGOLD Inc.BULGOLD is a gold exploration company focused on the exploration and development of mineral exploration projects in Central and Eastern Europe. The Company controls 100% of two quality quartz-adularia epithermal gold projects located in the Bulgarian portion of the Western Tethyan Belt: the Kutel Gold Project and the Kostilkovo Gold Project. Management of the Company believes that its assets show potential for high-grade, good-metallurgy, low-sulfidation epithermal gold mineralisation. The Company also holds an option to acquire a 100% interest in the Lutila exploration licence located in central Slovakia which is prospective for low-sulfidation epithermal gold mineralisation. BULGOLD had approximately $1.6 million in its treasury at March 31, 2023. BULGOLD’s issued and outstanding share capital totals 20,231,100 common shares, of which approximately 49.6% is held by Founders and Management. Additional information about the Company is available on BULGOLD’s website (www.BULGOLD.com) and on SEDAR (www.sedar.com). Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Information This press release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance and include statements regardi...